“It can help you understand who you need to hire….” Says Helen Plumridge, Managing Director of King Recruit.
If you’ve never heard of recruitment market mapping or you’re not quite sure what it is, then it’s actually quite simple.
Market mapping is to recruiting what financial planning is to your future. Both are highly important to do, both will save you significant amounts of time and money and both are crucial to future success. Here at King Recruit, we offer a market mapping service to all of our clients.
Market mapping is essentially using data and intelligence to understand the current job market in your sector and in your location, looking at things like how many suitable candidates there are in the market, their salary expectations, who are employing these types of candidates and how you can best attract them. It will ensure your business can grow easily and effectively by taking a proactive approach to recruitment and talent acquisition.
Benefits of market mapping
For growing businesses, mapping the market is invaluable as knowing the setup of some of your larger competitors can give you insight into what your next steps might be in terms of recruitment. For example, they may have a marketing team of six. You can use a market map outlining their roles, looking at how their particular role contributes to the department and company as a whole to assess whether growing your marketing department’s numbers will be of benefit to your business.
Market mapping can help you identify and attract high quality passive candidates
Perhaps the key reason to undertake market mapping is to identity and attract high quality candidates to your organisation. Having the key data and insight that a market map gives you means that you and your recruitment partner can now move from advertising for candidates to approaching highly suitable passive candidates directly, confident that your role will be of interest with appropriate salary and benefit levels.
Keep track of potential talent
Market mapping shouldn’t be a one-off activity, ideally it should be something that you are always updating and reassessing. Sometimes you may come across people whilst networking for example that would be a perfect fit for your organisation but not quite at this time (right person, wrong time). With a market map you can keep track of such people who may be of use to your company in the future.
Understand the local talent pool
It can be interesting to map your local talent pool as this can give you vital data of how you may want to grow in the future and in which direction. For example, the talent pool in the southwest of England may be particularly strong in certain areas, weaker than others.
Help strategic planning
Knowing and understanding your local talent pool can inform your strategic planning as to which markets you wish to focus on in the future. Knowing that there is a rich seam of talent in a particular niche may help you to decide to exploit this opportunity and help your business grow both in terms of size and profitability.
If you’d like to ease your recruitment processes, save time, save money and get a valuable insight into your potential future strategies, get in touch today.
King Recruit is a Management & Executive Recruitment proposition based in the Southwest. We pride ourselves on a 98% fill rate on exclusive assignments.
Our Vision: “To enhance the growth of careers and business with strategic recruitment excellence” With proven expertise in Management & Executive Recruitment, Talent Acquisition and Southwest business, our passion is working with strategic, career minded professionals and dynamic businesses.
For confidential enquiries:
T: 01392 790725
Managing Director: Helen on 07808 537696